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Fantasia wins land bids in Tianjin for RMB 623 mln
Published on: 2010-11-16
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Nov. 16, 2010 (China Knowledge) - Fantasia Holdings Ltd, a mainland China real estate developer, has won the bid for two pieces of land for residential use in Wuqing District, Tianjin for a total of RMB 623 million, sources reported.

The firm purchased the two parcels, 2010-156 and 2010-157, for RMB 298 million and RMB 325 million respectively. The first one has land area of 180,632 square meters, while the second has 180,914 sq m. Both parcels will have a floor area ratio of below 1.5, with 70 year of leasehold.

Separately, Fantasia on Sep. 16 announced to spend RMB 100 million to acquire the entire equities of Chengdu Noah Industrial Co Ltd in Sichuan Province.

The target firm has a piece of land in Tianfu New Town in Chengdu High-tech Zone, with landscaped building areas of 165,800 sq m. The plot cost RMB 750 per sq m of floor area, much lower than the average price of above RMB 2,000 per sq m in this district.

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